Welcome to Markets Desk, your midday read on what's moving markets and money.
Boeing shares are catching a bid today after the aerospace giant posted a surprisingly large quarterly loss that nonetheless came in better than feared. Revenue cleared Wall Street's bar, the defense segment delivered, and a robust backlog gave investors enough reason to look past the commercial airplane shortfall and push the stock higher.
Shifting to tech, Meta heads into earnings facing a wall of skepticism around artificial intelligence spending. After Alphabet's results last week put every dollar of AI capital expenditure under a microscope, investors are in no mood for vague promises about future returns. Zuckerberg will need to show discipline alongside ambition or the market will take it out of the stock.
And in the semiconductor space, rattled chip investors are being urged to keep their nerve. Fundstrat's Tom Lee is pointing to the Cisco Systems experience from the last millennium as a reference point, arguing the sector's poise should return within days. The lesson being that even foundational technology sells off hard before it reasserts itself.
That's the tape. Markets Desk, signing off the floor.
